MIR (Mirror Protocol) airdropped tokens to UNI holders on ETH and Terra (LUNA) stakers back in December 2020. Each UNI holder must have had at least 100 UNI in their address to be eligible for the airdrop while LUNA stakers will be airdropped based on the amount of staked LUNA. Seeing that LUNA isn't as popular as it is now, and the fact that UNI is on the ETH network, overlapping claimers (means claimed on both ETH and Terra) on genesis seems unlikely. However, how can we be certain that this hypothesis is true? In this article, let's explore claims by Terra and UNI holders!
All the graphs and SQL used can be found here.
Let's start out with the basics by comparing the statistics based on the network the claimer is on. Based on the graph below, we can see that while almost all of the airdrops allocated for Terrans are claimed, UNI holders don't even bother to claim. With the current airdrop value of over $800, it makes no sense to not claim the free money. So, the logical answer is that UNI holders aren't aware of this airdrop, thus only 2.84M out of 9.15M MIR are claimed.
The median MIR claimed for LUNA stakers is about 30% less than the UNI holders, showing that the Mirror team is heavily emphasizing on UNI holders to bring them in to utilize the Mirror Protocol on Terra. Seeing that UNI is the market leader in the DeFi space, it's no wonder that the Mirror team is trying to fish out UNI users.
Although all of the MIR on Terra are claimed and that Terra claims are less than that of UNI holders, surprisingly, only about 1000 Terra addresses had claimed the airdrop. This shows that MIR on Terra is mostly claimed by whales, massive massive whales. With equal distribution of MIR across all UNI holders, we see that the number of claimers is far higher than Terra claimers. Perhaps, an equal distribution is a better way of marketing to reach a much larger audience? Food for thought.
In the introduction, it's said that overlapping claimers / community are highly unlikely, so to verify this, we must find out how many claimers have done it on both Terra and UNI.
Don't we all love hunts?
The original idea was to check for exact MIR tokens bridged over by UNI holders shortly after claiming, however, this idea is very flawed by the following reasons:
So how do we begin? Well, in order to solve this, an address map must be produced, and the only way to produce this map is through bridging activity. By improvising the previous idea, a methodology to produce an address map is born. To get the address map, the following procedures was conducted.